SJM Holdings Reports Strong Q3 2024 Performance
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SJM Holdings Reports Strong Q3 2024 Performance

SJM Holdings ( (SJMHF) ) has released its Q3 earnings. Here is a breakdown of the information SJM Holdings presented to its investors.

SJM Holdings Limited operates in the gaming and entertainment industry, primarily focusing on casino operations in Macau, characterized by its iconic properties like Grand Lisboa Palace and Grand Lisboa.

In the third quarter of 2024, SJM Holdings reported significant growth in its financial metrics, demonstrating strong recovery and performance compared to the previous year. Key highlights include substantial increases in net gaming revenue and adjusted EBITDA, reflecting the company’s improved operational efficiency and market position.

The company’s net gaming revenue saw a notable rise to HK$6,995 million in Q3 2024 from HK$5,413 million in Q3 2023. Adjusted EBITDA nearly doubled to HK$1,037 million, highlighting enhanced profitability. Noteworthy is the turnaround in profit attributed to owners, with a profit of HK$101 million compared to a loss in the previous year. The Grand Lisboa Palace and Grand Lisboa properties also reported significant revenue and EBITDA growth, further strengthening the company’s financial health.

Looking ahead, SJM Holdings remains cautiously optimistic, supported by substantial cash reserves and available credit facilities to navigate the dynamic market environment. The management’s focus on strategic investments and operational excellence positions the company for continued recovery and growth in the gaming sector.

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